Kuala Lumpur:Bursa Malaysia Bursa Malaysia experienced a decline in its early trading session on Thursday, following losses on Wall Street. This downturn was influenced by higher-than-expected US inflation figures and renewed expectations of further Federal Reserve monetary tightening, which weighed on investor sentiment and potentially dampened regional risk appetite.
According to BERNAMA News Agency, at 9.15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 10.22 points, or 0.63 percent, to 1,617.50 from the previous day's closing of 1,627.72. The index had opened 2.62 points lower at 1,625.10. Across the broader market, there were 449 decliners compared to 86 advancers, with 276 counters unchanged, 2,032 untraded, and nine suspended. The turnover was 315.47 million units valued at RM178.50 million.
Apex Securities Bhd noted that while improved market breadth and bargain-hunting in large-cap stocks on Wednesday indicated stabilizing domestic sentiment, gains were limited by expectations of prolonged higher interest rates, persistent foreign selling, and geopolitical risks in West Asia. The brokerage anticipates the KLCI to remain range-bound, with investors likely focusing on selective domestic and defensive stocks.
In terms of sector performance, Apex Securities mentioned that transportation and logistics stocks could see mixed trading. Increased domestic activity may provide support, but elevated oil prices are raising concerns over fuel costs.
Among heavyweight stocks, RHB Bank dropped two sen to RM7.31, Kuala Lumpur Kepong decreased by 26 sen to RM21.04, Nestle fell 12 sen to RM90.00, Hong Leong Bank lost 20 sen to RM21.20, and IOI Corporation declined seven sen to RM4.57. In active trades, Top Glove slipped one sen to 90 sen, Dagang NeXchange fell two sen to 45 sen, Ecosys dropped four sen to 76 sen, VS Industry shed half a sen to 33.5 sen, and NationGate Holdings decreased eight sen to RM1.99.
Among the gainers, Fraser and Neave rose six sen to RM20.00, while Suria Capital and Allianz Malaysia each gained four sen to RM1.16 and RM20.12, respectively. Bank Islam Malaysia and Pecca Group each added two sen to RM2.02 and RM5.99, respectively.
Top losers included Malaysian Pacific Industries, which fell RM1.48 to RM40.52, UMS Integration, which declined 78 sen to RM7.55, Vitrox, which lost 50 sen to RM10.14, UWC, which dropped 47 sen to RM7.26, and MI Technovation, which shed 43 sen to RM6.27.
On the index board, the FBM Emas Index decreased by 99.63 points to 12,042.97, and the FBM Top 100 Index fell 96.47 points to 11,837.56. The FBM Mid 70 Index lost 231.27 points to 17,213.10, the FBM Emas Shariah Index declined 126.05 points to 11,979.30, and the FBM ACE Index shed 110.23 points to 5,445.02. Sector-wise, the Financial Services Index fell 56.84 points to 18,767.59, the Industrial Products and Services Index decreased by 2.52 points to 178.09, the Plantation Index declined by 65.23 points to 8,831.73, and the Energy Index slipped 4.49 points to 823.56.